BRAEMAR HOTELS & RESORTS PROVIDES Q4 2022 UPDATE

DALLAS, Dec. 21, 2022 /PRNewswire/ — Braemar Motels & Lodges Inc. (NYSE: BHR) (the “Corporate” or “Braemar”), introduced lately its initial expectancies for web source of revenue and Adjusted EBITDAre for the fourth quarter finishing December 31, 2022.

The Corporate reported lately a initial estimated vary of web source of revenue of roughly $0.5 million to $3.5 million and a initial estimated vary of Adjusted EBITDAre of $36.0 million to $39.0 million.  The decrease finish of this initial estimated vary of Adjusted EBITDAre is upper than the present moderate of the estimates revealed through the fairness analysis analysts that duvet the Corporate. As in the past introduced, the Corporate’s RevPAR for the month of October used to be $280, reflecting an building up of roughly 14% in comparison to October of 2019 and the Corporate’s RevPAR for the month of November used to be $253, reflecting an building up of roughly 15% in comparison to November of 2019. The Corporate lately expects its RevPAR for the month of December to be at a identical top rate to 2019.

We use sure non-GAAP measures, along with the desired GAAP shows, as we imagine those measures make stronger the figuring out of our operational effects and make comparisons of working effects amongst peer actual property funding trusts extra significant. Non-GAAP monetary measures used on this press unencumber, which must no longer be relied upon as an alternative to GAAP measures, are EBITDA, EBITDAre and Adjusted EBITDAre. Please discuss with our maximum just lately filed Annual File on Shape 10-Ok for a extra detailed description of the way those non-GAAP measures are calculated. The reconciliations of non-GAAP measures to the nearest GAAP measures are supplied beneath and supply additional main points of our effects for the length being reported.

The next desk incorporates a reconciliation of the Corporate’s initial estimated GAAP web source of revenue (loss) to the Corporate’s initial estimated EBITDA, EBITDAre, and Adjusted EBITDAre:

 Braemar Motels & Lodges is an actual property funding accept as true with (REIT) desirous about making an investment in luxurious accommodations and accommodations.

The initial estimated effects for the fourth quarter finishing December 31, 2022 integrated on this unencumber, that are the duty of control, have been ready through the Corporate’s control in reference to the preparation of the Corporate’s monetary statements and are based totally upon initial lodge working effects, initial company degree bills and a lot of subjective judgements and assumptions. Further pieces that can require changes to the Corporate’s initial estimated monetary knowledge is also recognized and may lead to subject matter adjustments to the Corporate’s initial estimated effects. The Corporate has supplied levels, quite than explicit quantities, for the initial estimated effects described above essentially since the Corporate’s last procedures for the fourth quarter finishing December 31, 2022 aren’t but entire and, consequently, the Corporate’s ultimate effects upon finishing touch of the last procedures would possibly range from the initial estimates set forth above. The Corporate’s unbiased registered public accounting company, BDO USA, LLP, has no longer audited, reviewed, compiled or carried out any procedures with appreciate to the initial estimated monetary knowledge, nor have they expressed any opinion or another type of assurance on such knowledge or its achievability, and think no duty for, and disclaim any affiliation with, such initial estimated monetary knowledge. Additional, those initial estimated effects aren’t a complete remark or estimate of the Corporate’s monetary situation or working effects for the fourth quarter finishing December 31, 2022. Those initial estimated effects must no longer be considered as an alternative to entire quarterly monetary statements ready in response to usually approved accounting ideas (“GAAP”) or as a measure of the Corporate’s efficiency. As well as, the initial estimated monetary knowledge isn’t essentially indicative of the consequences to be completed for any long term length. Accordingly, traders are cautioned to not position undue reliance in this initial estimated monetary knowledge. See the guidelines beneath beneath the heading “Ahead-Taking a look Statements” and “Possibility Components” and “Control’s Dialogue of Monetary Situation and Result of Operations” within the Corporate’s Annual File on Shape 10-Ok for the 12 months ended December 31, 2021. 

Ahead-Taking a look Statements

Positive statements and assumptions on this press unencumber include or are based totally upon “forward-looking” knowledge and are being made pursuant to the protected harbor provisions of the Personal Securities Litigation Reform Act of 1995. Ahead-looking statements on this press unencumber come with, amongst others, statements in regards to the Corporate’s technique and long term plans. Those forward-looking statements are matter to dangers and uncertainties. Once we use the phrases “will most probably consequence,” “would possibly,” “watch for,” “estimate,” “must,” “be expecting,” “imagine,” “intend,” or identical expressions, we intend to spot forward-looking statements. Such statements are matter to a lot of assumptions and uncertainties, a lot of that are outdoor Braemar’s regulate.

Those forward-looking statements are matter to recognized and unknown dangers and uncertainties, which might reason precise effects to vary materially from the ones expected, together with, with out limitation: the have an effect on of COVID-19, and the velocity of adoption and efficacy of vaccines to forestall COVID-19, on our trade and funding technique; our skill to pay off, refinance or restructure our debt and the debt of sure of our subsidiaries; expected or anticipated purchases or gross sales of belongings; our projected working effects; finishing touch of any pending transactions; dangers related to our skill to effectuate our dividend coverage, together with elements similar to working effects and the commercial outlook influencing our board’s resolution whether or not to pay additional dividends at ranges in the past disclosed or to make use of to be had money to pay dividends; our figuring out of our pageant; marketplace tendencies; projected capital expenditures; the have an effect on of era on our operations and trade; common volatility of the capital markets and the marketplace value of our not unusual inventory and most popular inventory; availability, phrases and deployment of capital; availability of certified group of workers; adjustments in our trade and the markets by which we function, rates of interest or the overall economic system; and the level and nature of our pageant. Those and different possibility elements are extra totally mentioned in Braemar’s filings with the Securities and Alternate Fee.

The forward-looking statements integrated on this press unencumber are simplest made as of the date of this press unencumber. Such forward-looking statements are in accordance with our ideals, assumptions, and expectancies of our long term efficiency making an allowance for all knowledge lately recognized to us. Those ideals, assumptions, and expectancies can alternate on account of many doable occasions or elements, no longer all of that are recognized to us. If a transformation happens, our trade, monetary situation, liquidity, result of operations, plans, and different targets would possibly range materially from the ones expressed in our forward-looking statements. You must moderately imagine this possibility when you are making an funding resolution relating to our securities. Traders must no longer position undue reliance on those forward-looking statements. The Corporate may give no assurance that those forward-looking statements might be attained or that any deviation won’t happen. We aren’t obligated to publicly replace or revise any forward-looking statements, whether or not on account of new knowledge, long term occasions or instances, adjustments in expectancies, or differently, apart from to the level required through legislation.

SOURCE Braemar Motels & Lodges Inc.